Shares in leisure group Whitbread rose by 11% in one day yesterday amid speculation that a private equity group is on the brink of launching a bid for the name behind the Premier Travel Inn, David Lloyd leisure, Beefeater pubs and Costa Coffee brands. Starwood Capital, CVC, Cinven and Blackstone are all groups that are understood to be interested. Starwood Capital has so far not been active in Europe, having completed just one deal in recent years - the EUR 2.6bn buyout of Groupe Taittinger in France in 2005.
Fund targets companies active in the ready-to-wear, cosmetics, jewellery, accessories, health and lifestyle sectors
This is Cinven VII's third acquisition following the purchase of LGC and Thyssenkrupp Elevator
Buyer is wholly acquiring the company for a debt-free purchase price of around €13.6m
Round follows the company's €24m series-D in November 2019, also backed by Wellington and HBM